Your pretty much right fam, I don't think there is a definitive answer. This is just my opinion though, I've always thought KO meant knockout and the canvas was supposed to correlate to boxing shoes in those days. I also know Canvas is a common material for skate shoes and Air Jordan 1s were pretty popular among those skate groups. I have no idea what KO or AJKO could have to do with skating though besides getting knocked out from a face plant or something. Then again I don't know skating at all besides playing the video games